WSJ: Snapchat spurned $3 billion acquisition offer from Facebook

Today’s lunch read from the Wall Street Journal dropped a big bombshell, stating that Snapchat turned down a Facebook proposal for an acquisition — to the tune of $3 billion. That figure, which is three times higher than what the social media giant paid for Instagram, was shooed away because, according to “sources,” Snapchat CEO Evan Spiegel won’t consider investment or acquisition until early 2014. Of course, these closed-door deals have not (and likely will not) be confirmed by either party, but it does give a glimpse into the lengths Facebook will go to stay young and fresh for teens — or Snapchat’s desire to be seen as valuable.